Message Received from Harshil Shah
PLEASE DO NOT TAKE ANY INVESTMENT DECISION BASED ON THIS OR THE COUNTER VIEW
https://www.moneycontrol.com/
In a stock exchange submission, Ultratech has declared Binani cement as WHOLLY OWNED SUBSIDIARY. This is despite there are many other shareholders of Binani cement.
Since there is no money left after paying creditors, it seems Ultratech has cancelled all preference shares and equity shares of shareholders of Binani cement considering them as WORTHLESS.
If it is so, Arcelor may also do same with Essar shareholders once take over is completed since in Essar case even creditors aren't fully paid off.
Please recheck at your end.
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BLOG COMMENTS
It appears ( PLEASE RECHECK ) that Harshil Shah 's views are correct as Ultratech's Communique mentions the words " FULLY OWNED SUBSIDIARY meaning 100 % share holding ( and not around 98% which could have included Non Promoter shareholders ).
For Ultratech 's Letter ,please click :-
For the Final NCLAT order , please click :-
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OLD POST
November 21, 2018
Binani Cement- Views Received From a Reader/Investor
Message Received
It seems 1.57% shares of Binani Cement are still held by public shareholders. Considering Ultratech has paid around 8000 crore and the total shares are 188,601,274 of face value 10 (from some old report), I assume the price of one share would above Rs 400. I know it would not be as simple but still I expect the price to be no less than Rs 200. On one of the sites, they are selling Binani Cement shares at Rs 145. Is there any way to find out Ultratech's plan for these public shareholders?
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BLOG COMMENTS
Please click :-
https://www.business-standard.com/article/companies/ultratech-cement-turns-binani-cement-into-wholly-owned-subsidiary-118112000881_1.html
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Binani Cement delisted in 2011 at the Exit price of Rs 90 /-.
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It seems 1.57% shares of Binani Cement are still held by public shareholders. Considering Ultratech has paid around 8000 crore and the total shares are 188,601,274 of face value 10 (from some old report), I assume the price of one share would above Rs 400. I know it would not be as simple but still I expect the price to be no less than Rs 200. On one of the sites, they are selling Binani Cement shares at Rs 145. Is there any way to find out Ultratech's plan for these public shareholders?
-------------------------
BLOG COMMENTS
Please click :-
https://www.business-standard.com/article/companies/ultratech-cement-turns-binani-cement-into-wholly-owned-subsidiary-118112000881_1.html
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Binani Cement delisted in 2011 at the Exit price of Rs 90 /-.
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PLEASE RECHECK ALL THE DETAILS ON THE FINAL TERMS
IN THE MEANWHILE , PLEASE DO NOT TAKE ANY INVESTMENT DECISION BASED ON THESE CONJECTURES
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General Warning : Investment in shares can be injurious to your WEALTH.
Caution :The blog writer has personal/ family members' holdings in Binani Cement,so please make suitable "provisions " for likely over optimism
( PS : All information given in good faith. Please recheck all facts etc. No responsibility with this author / blog. )
Caution :The blog writer has personal/ family members' holdings in Binani Cement,so please make suitable "provisions " for likely over optimism
( PS : All information given in good faith. Please recheck all facts etc. No responsibility with this author / blog. )
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